Franklin was a graduate of Valley High-school. Following high-school, he was selected to attend the United States Naval Academy where he graduated with the honor of having the highest aptitude in his graduating class. His naval career lasted 36 more years culminating with his retirement from the United States Naval Reserves with the rank of Two-Star Rear Admiral (RADM).

After serving on submarines in Vietnam, Franklin attended night law school at the University of Louisville while working full-time at his uncle Pat’s appliance company. Graduating in 1967, Larry became a successful lawyer in Kentucky and throughout the country, earning him a coveted spot as a member of the Inner Circle of Advocates.

Those who knew Franklin said he was a force of nature in the court room, winning some of the largest verdicts in Kentucky history for his clients.